Region: Guinea

Seychelles telecoms group seeks to enforce against Guinea

A Seychelles-incorporated telecoms group has asked a US court to enforce a US$25 million ICC award against Guinea after the state failed to have it set aside on grounds of alleged corruption.

20 July 2022

Guinea declares win in Steinmetz ICSID case

An ICSID tribunal has rejected mining company BSG Resources’ US$5 billion claim against Guinea over rights to the world’s largest iron ore deposit, the West African state has announced.

20 May 2022

Steinmetz lawyers say Vale award may be reopened after fraud trial collapses

Beny Steinmetz’s eponymous mining company may seek to overturn a US$2 billion LCIA award in favour of Brazil’s Vale following the collapse of a related fraud litigation this week, the Israeli businessman’s lawyers have said.

17 February 2022

Security contractor chases Guinea over ICC awards

An Israeli-owned contractor has asked a US court to enforce awards worth over €50 million issued in two ICC arbitrations against Guinea over the provision of security services and equipment.

01 February 2022

Guinea fails in corruption challenge to telecoms award

With the country in the midst of a military coup, Guinea has failed to persuade a Paris court to overturn a US$25 million ICC award won by a Seychelles-based telecoms group on grounds of corruption.

07 September 2021

Sierra Leoneans seek discovery from Steinmetz group

Sierra Leonean citizens pursuing an environmental class action against subsidiaries of Beny Steinmetz’s BSG Resources have asked a US court for discovery from the Guernsey mining company and its bankruptcy administrators.

25 August 2021

Arms dealer’s award against Guinea upheld

A French court has upheld a nearly €40 million ICC award won by an Israeli-owned arms company against Guinea, rejecting arguments that it violated an EU embargo on military sales.

16 April 2021

Steinmetz found guilty of corruption in Geneva

A court in Geneva has found Israeli-French billionaire Beny Steinmetz guilty of paying bribes to secure mining rights in Guinea – allegations that have also been the subject of ICSID and LCIA arbitrations.

22 January 2021

Award in Guinean bribery dispute made public

An LCIA award worth US$2 billion that made findings of corruption in a dispute over an iron-ore mining project in Guinea has become public after being submitted to the US courts for enforcement.

25 April 2019

Soros-Steinmetz feud stayed for Guinea arbitration

A US$10 billion action brought against US-Hungarian philanthropist George Soros by Beny Steinmetz Group Resources has been stayed by a New York court pending the outcome of the mining group’s ICSID arbitration against Guinea.

30 November 2017

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